A Brief Introduction to MSMEs and its Registration in India

MSMEs and its Registration in India

Over the past few decades, India has become a hub of budding startups and small businesses.  With the emergence of the Micro, Small and Medium Enterprises by the people has made the Indian business sector more organized and advanced. The government of India has launched the MSME Act, 2006 with the aim to promote business development. The MSME sector contributes to 45% of the total employment in industries and hence, when these small industries flourish, the economy of the country as a whole flourishes.

Startup OPC company Registration in India

OPC company Registration in India

The Company Act, 2013 has launched a business form which is known as One Person Company (OPC). It is for the company incorporated by 1 person. This has paved the way for new entrepreneurs and start-ups, which required a minimum of 2 directors and members. As per Section 2(62) of the Company’s Act 2013, now OPC Company can be formed by just 1 director and member.